HUNTSVILLE, Ala. — Alabama businesses got $9.5 billion in paycheck protection program (PPP) funds according to the Small Business Administration.
The forgivable loans were intended to help businesses keep their workforce employed during the COVID-19 crisis.
Four industries in Alabama that got the most paycheck protection program loans include health care and social assistance, construction, manufacturing, and professional, scientific, and technical services. Each of these four industries got more than one billion dollars.
The database of Small Business Administration Paycheck Protection Program loans, published and sorted by the Clarion Ledger is broken down by states and counties.
A quick search shows the top borrowers in Alabama. Eleven businesses got $10,000,000, the maximum amount allowed for a first time PPP loan.
In Madison County, businesses got $825,735,444. Only one of the Madison County businesses got approved for the max of $10,000,000, Yorktown Systems Group, Inc. Hometown Lenders, The Orthopedic Center, PC and Pinnacle Solutions, Inc. all received over $6,000,000.